Making financial globalization

• Verfasst von: Park, Clara [VerfasserIn]
• Titel: Making financial globalization
• Titelzusatz: how firms shape international regulatory cooperation
• Verf.angabe: Clara Park
• Verlagsort: New York, NY
• Verlag: Oxford University Press
• E-Jahr: 2025
• Jahr: [2025]
• Umfang: xii, 165 Seiten
• Illustrationen: Diagramme, Karten
• Fussnoten: Literaturverzeichnis: Seite 149-161
• ISBN: 978-0-19-776182-3
• ISBN: 978-0-19-776181-6
• Schlagwörter: (s)Finanzdienstleistungsmarkt / (s)Internationaler Kapitalmarkt / (s)Internationaler Geldmarkt / (s)Internationaler Kreditmarkt / (s)Globalisierung / (s)Weltwirtschaftsordnung / (s)Regulierung
• Sprache: eng
• RVK-Notation: QK 651
• RVK-Notation: QK 640
• RVK-Notation: QM 000
• K10plus-PPN: 1892984482

Abstract

"Why did financial globalization occur? Finance has traditionally been local and state controlled. However, around the turn of the century, over a hundred countries---even those without comparative advantages in financial services---agreed to open up their financial markets to foreign banks, insurers, and securities firms. Making Financial Globalization offers a novel account of business and politics in which firms engage in multilateral lobbying to create a new international agreement that would lower entry barriers to trade in financial services. Firms formed coalitions across industries and countries and helped shape the new international regime in trade in financial services. In turn, governments liberalized their financial market to bring external capital into their economy and subsequently embarked on domestic regulatory reforms to lower their entry barriers. The book upends the traditional view of the dominance of state actors in regime creation and shows how firms increasingly shape international economic policies."